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In the USA – records, in Asia – monthly highs. What caused the euphoria in the global stock markets?

On Monday, shares in the Asia-Pacific region posted a monthly high amid hopes for unchanged flexible monetary policy around the world and high rates of vaccination of the population against COVID-19. Thus, the broadest index of securities in the Asian region outside Japan, MSCI, increased to 699.70 points. The last time the stock index conquered such a high mark was a month ago – on March 18. Meanwhile, the shares of Chinese companies, which started with negative dynamics, bounced back quickly enough. The Hong Kong Hang Seng Index gained 0.83% and rose to 29,249 points. As a reminder, last week the indicator showed a steady growth of 1.2%, and this year – by 5.1%, which was its third annual growth. South Korea’s KOSPI rose 0.35% to 3210.1 points, while Japan’s Nikkei 225 rose 0.22% to 29,749. Analysts explain the permanent increase in stocks and indices in the Asian region by extremely favorable monetary and fiscal policies, which create an ideal environment for the growth of stock markets. Meanwhile, the US stock market also ended the previous trading week with gains, with the Dow Jones and S&P 500 indices hitting record highs for the second day in a row. Thus, the Dow Jones Industrial Average rose 0.48% to 34,200.67 points. Standard & Poor’s 500 gained 0.36% and reported 4185.47 points, while the NASDAQ Composite added 0.1% and amounted to 14052.34 points. The US stock market was supported by internal statistics and promising financial statements from Goldman Sachs Group Inc. and JPMorgan Chase & Co. In addition, on Friday, the US Department of Commerce announced that the number of houses, the construction of which began in March, rose sharply by 19.4% compared to February and amounted to 1.739 million in annual terms. This is a record high in fifteen years – since 2006. The consumer confidence index in the United States this month increased to 86.5 points from 84.9 points in March, which was the highest value since March last year. Despite this, experts predicted a more tangible growth of the index – up to 89.6 points. Additional support to the market was also provided by the data of the US Department of Labor. So, its representatives announced a drop in the number of new applications for unemployment benefits to the lowest level since the beginning of the coronavirus pandemic. At the same time, the growth rate of retail sales in America in March was the highest since May 2020 and significantly exceeded analysts’ forecasts. As for the preliminary scenarios of experts for the current week, on Monday analysts rule out any shocks in the American stock markets due to the lack of important internal data for publication. Investors will be watching the earnings of IBM and Coca-Cola on Monday. Netflix will release its data on Tuesday, and toward the end of the week, American Airlines and Southwest will be the first global cyclical publications since the pandemic to release results. Australian equities closed the trading session Monday unchanged from Friday, with the benchmark New Zealand gaining 0.6%. European indicators also showed solid gains, with Eurostoxx 50 futures gaining 0.2% and German DAX up 0.1%. – Source: InstaForex

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